Bidding , Project Management

Bidding is a process in which you  quote money in exchange of goods or services through an auction. They are two types of auctions: open auction and silent auction. In an open auction, interested parties compete for acquisitions by offering a higher bid than the offer that is currently on the table and higher than the competitive bidders. In silent auction, there is no quote on table; the quoted bid is the maximum price that the bidder is willing to pay for the goods or services.  

The most widely used methods of bidding are as follows: 

  •   International/Global Competitive Bidding (ICB). 
  •   Limited International Competitive Bidding (LIB). 
  •   National Competitive Bidding (NCB).  
Posted Date: 9/27/2012 8:18:45 AM | Location : United States

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